I have a dream...to be a MFW

edinburgher

Best of luck for the GN, there would appear to be at least 450 horses taking part :rotfl:

ajmoney

edinburgher wrote: »

Best of luck for the GN, there would appear to be at least 450 horses taking part :rotfl:

The sweepstake certainly doesn't have that many horses in it so we may have even less of a chance!

ajmoney

I have had my own lightbulb moment today. I think I have finally decided what I want to do when I grow up/leave my current awesome job. I am hoping to do a course on musical instrument maintenance in the summer and then practice on the many instruments we have lying around at home. I will be able to do repairs for people that I work with for a fee, repair our instruments which will save between £20-100 a time and I am eventually planning to set up my own business when I finish my current employment. I need to look at self employed tax etc for the interim period in case I get any work from colleagues. Work pay for me to do courses when I leave their employment so I am planning to do a business start up course with that so I am more aware of what I need to do. Mr AJM is quite excited by it, he is probably relieved that I have an idea of what I want to do. I would love to be able to set up properly as soon as I am qualified but while I am living away from home I would not be able to do some of the repairs/use some of the equipment. I am going to look into the possibilities though!

On the spending front, today I have spent £5.56

ajmoney

How much money do you all allocate for spending money/extras after all you bills and food etc have gone out? I am definitely looking at this all wrong (I think). I transfer my normal amount to my ISA each month and then have an account that I transfer extra to until the end of the month when I sweep it into the ISA. However I don't really feel that I am budgetting this way. I am hoping to come up with a better plan after keeping track of my spending this month, still using this system but not allowing myself such a buffer unless I know I need the money that month. I am really keen to start building back up the savings in my ISA while I am working away and this seems one of the better areas to start.

I am going to try and sort out my updated SOA tonight and tomorrow and then I will be brave and put it on here and see what you guys think!

ajmoney

For those of you that know how to work out figures better than me! Our larger mortgage is 4%, what do I need in a savings account for it to be better to pay into, I am a low rate tax payer.

I am getting new ideas come into my head on how best I can lower the mortgage or become mortgage neutral. They may not take off yet as I want to build my savings up more first and would also need to get Mr AJM on board with my plan if I want it to benefit the mortgage. Once I have bolstered my savings I was thinking about keeping my lower payments to my ISA and as OPs and then transferring the equivalent of our mortgage interest into a higher rate savings account monthly with the view that we would eventually have the money to pay it off but would also be making some money on top. I do like seeing the mortgage figures come down but wonder if there is a better longterm solution. If there is an obvious flaw with my plan (apart from if the interest rate does not work) then someone please tell me!

ajmoney

My spending hasn't been so great today. Went shopping before it got busy this morning and got everything I needed. Unfortunately I got bored this afternoon so treated myself to a waffle at one of the local ice cream parlours. Now I have overspent and overindulged!

Radish72

This will help you

http://www.moneysavingexpert.com/mortgages/savings-vs-mortgage-calculator#result

But it looks like you need 5%

ajmoney

Radish72 wrote: »

This will help you

http://www.moneysavingexpert.com/mortgages/savings-vs-mortgage-calculator#result

But it looks like you need 5%

Thanks. I have found some accounts that will pay 6% so long as I get a new current account as well but I am not sure that is an option so I need to keep looking.

ajmoney

Hi, waiting for my MOT and service to be done and trying not to spend too much money while I pass the time.

London wasn't as expensive as I thought although I need to add up the spends later.

The spending is going OK, £24 in my purse, £210 in my bank and I get paid in 6 days. There are times I have spent when I didn't need to, generally on food because I was bored so I am going to try and cut back on that next month. I should be able to start saving far more, just need to find the best way to do it.

ajmoney

It has been an expensive day at the garage